mortgage protection payment

CrystalSlipper

We took out a mortgage with the then Midland Bank back in 1995, however they informed us that they would only let us have the mortgage if we took out a mortgage protection plan. Which I felt we were blackmailed into doing, and did. Otherwise we would not have been successful with our mortgage application.

Unfortunately we no longer have any of the paperwork. In this instance are we able to make a claim?

Thanks

dunstonh

e took out a mortgage with the then Midland Bank back in 1995, however they informed us that they would only let us have the mortgage if we took out a mortgage protection plan.

Not uncommon with banks at that time. Until the mid 90s the banks often insisted on life assurance as a condition. That was (and still is) allowed. Also, in those years many ran mortgage deals that required the purchase of insurance. Again, that is allowed.

Which I felt we were blackmailed into doing

you were not.

In this instance are we able to make a claim?

If they told you you needed it and you did then you dont have a complaint. If they lied to you and you didnt need it then its an easy rejection as its unlikely any evidence supports your allegation of what they told you 19 years ago. Most mortgage insurance complaints are rejected and nothing you have said indicates anything to be successful on.

roonaldo

If it were a condition of the mortgage then it's not mis-selling. You should have gone elsewhere then for the mortgage.

You were really blackmailed?